The U.S. Bureau of Land Management state offices generated more than $1.1 billion of revenue from oil and gas lease sales during 2018, nearly thrice the previous record of $408 million set a decade ago, according to a Feb. 6 press release. The agency’s New Mexico office held 2018’s biggest lease sale in September, earning a record-breaking $972 million, which is more than all the sales in 2017 combined.
- The agency held 28 oil and gas auctions in 2018, leasing a total of 1,412 parcels, covering almost 1.5 million acres.
- The revenue generated in 2018, the highest grossing year on record, is almost equal to the agency’s budget for Fiscal Year 2018.
- The agency said that 48 percent of the revenue – nearly $500 million – has gone back to states.
- In 2019, the agency is scheduled to hold 28 oil and gas lease sales.